We know – we are too. And yet it’s keeping the currency markets on their toes, so it’s important we keep track of what’s happening.

This week, after three Brexit-related votes, it’s understood that the UK government has voted for an extension to Article 50 until 30th June. But will it happen, will Brexit happen? And are we going to get any certainty or answers in those additional three months? And so, the uncertainty continues…

Was the Spring Statement a damp squib?

The UK economy, while stronger than expected in light of all the ambiguity, has been affected by the Brexit burden before it even begins. And while UK Chancellor of the Exchequer, Phillip Hammond, tried hard to keep the Spring Statement light and full of his usual, groan-worthy joked, the gloomy Brexit cloud is still hovering over the British economy. Mr Hammond referred to this in his speech and warned of the dangers to the economy of no deal Brexit. While the Spring Statement, a ‘Budget-lite’, should be setting the scene for the growth we can expect ahead, it was certainly overshadowed by ongoing political and economy, concerns and by, well, the “B” Word.

Economic unease extends across Europe and beyond…

Meanwhile, the UK are not the only ones with worries about the future. Europe is concerned about slowing economic performance and declining activity in Germany, in particular.

Japan had some good news about their economy being back on the right track, then they kept interest rates the same on concerns of global economic woes.

Tensions transcending the globe

And those other international economic woes come in the form of fears of the effects of US-China trade tensions on the Chinese economy, sending ripple effects across Asia Pacific and the commodity currencies, such as the Australian and New Zealand Dollars, who, right now, have enough economic concerns of their own. It will be interesting to hear what the Reserve Bank of Australia (RBA) Governor has to say next Monday, 18th March.
 

 
What’s next?

APAC

Next week is a busy one for the Australian Dollar. As well as the RBA Governor’s speech, there will be the Australian Monetary Policy Minutes, which could also be an eye-opener in terms of the central bank’s approach and the future direction of the Australian Dollar. Further speeches from the RBA are scheduled for Tuesday and Wednesday 19th and 20th March, alongside employment data.

New Zealand presents its Gross Domestic Product data on Wednesday 20th March, so the Kiwi will need to watch out, too.

Elsewhere in Asia Pacific (APAC), Japan releases industrial data figures next Monday and Monetary Policy Minutes on Tuesday.

Europe

The Eurozone presents its Trade Balance on Monday morning, too, along with more German economic data. This will be followed by the key economic indicator, the German ZEW Economic Sentiment report.

UK

The UK will have some more data to focus on, too, with employment and earnings data, but the spotlight, as ever, will be on Brexit, with a tentative parliamentary vote scheduled.

Americas

In North America, Canada releases its Annual Budget, following the US Housing Market Index on Monday and a whole host of Federal Reserve Meeting Minutes and Statements mid-week. This is joined by Crude Oil Inventories, which also often affect the US Dollar.

Happy Friday!

So, another busy week ahead. Happy Weekend and do get in touch if you would like to discuss any concerns in these uncertain times.

Happy St. Patrick's Day for Sunday!

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Analysis feed

Latest Forex Analysis

Editors’ Picks

AUD/USD remains under pressure around 0.6720 with eyes on RBA minutes

AUD/USD declines to 0.6713 at the start of Tuesday’s Asian session. In doing so, the Aussie pair registers the fourth consecutive negative day and coronavirus is the catalyst to blame. Traders are now awaiting fresh clues from RBA minutes, up for publishing at 00:30 GMT, for near-term direction.

AUD/USD News

USD/JPY bulls seeking higher-highs on 110 handle

USD/JPY idles at the top of the day's range in holiday thin markets, oscillating around 109.93 having travelled from a low of 109.71 to a high of 109.96.

USD/JPY News

Coronavirus peaking? How will it impact the Chinese & wider economies and FX?

Coronavirus third straight day of a drop in new cases; Financial and commodity markets are in recovery. Markets have been encouraged by the Chinese authorities early response to the outbreak. Disruptions outside China are likely to be limited to parts of Asia.

Read more

WTI: Teases bears below 100-bar EMA

WTI declines to $52.20 during the Asian session on Tuesday. The energy benchmark recently dropped below the short-term ascending support line while extending its weakness below 100-bar EMA.

Oil News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex Majors

Cryptocurrencies

Signatures